Montreal, Quebec, Canada, 31 December 2007 --(Marketwire)-- With the assistance of its independent financial advisor, Quebecor World Inc. (TSX:IQW)(NYSE:IQW) is actively pursuing financing options and solutions to its liquidity and balance sheet challenges and to explore various strategic alternatives.

In addition, Quebecor World announced today that to facilitate its undertaking for financing initiatives, it has obtained waivers from its banking syndicate and the sponsors of its North American securitization program until 31 March 2008, from compliance with certain financial tests under the relevant agreements in respect of the quarter ended 31 December 2007, in particular, the maximum Debt-to-EBITDA ratio of 4.50:1.00. These waivers are subject to a number of conditions, including

(1) the company having obtained, on or before 15 January 2008, USD 125 million of new financing and

(2) the company delivering, on or before 31 January 2008, a "Refinancing Transaction," being comprised of commitments or other arrangements satisfactory to the company's lenders which would reduce the company's current credit facility to USD 500 million by 29 February 2008, and further allow the repayment in full of the company's current credit facility and the concurrent termination of the company's North American securitization program on or before 30 June 2008.

In connection with the foregoing, the company is in active discussions with major financial institutions in respect of financing alternatives that could satisfy the conditions under the aforementioned waivers, although no firm commitments have been obtained as of the date of this release and there can be no assurance that such financing commitments will be obtained.

About Quebecor World

Quebecor World Inc. (TSX:IQW)(NYSE:IQW) is a world leader in providing high-value, complete marketing and advertising solutions to leading retailers, catalogers, branded-goods companies, and other businesses with marketing and advertising activities, as well as complete, full-service print solutions for publishers. The company is a market leader in most of its major product categories, which include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics, mail list technologies, and other value-added services. Quebecor World has approximately 28,000 employees working in more than 115 printing and related facilities in the United States, Canada, Argentina, Austria, Belgium, Brazil, Chile, Colombia, Finland, France, India, Mexico, Peru, Spain, Sweden, Switzerland, and the United Kingdom.